Tds 194q on high sea purchases

Hi good  morning,

We have a doubt abt high sea purchases, we buy material from A company, this A is Indian company, po also placed against A, but material actually received  from out side India and in customs BE issued  against me and duty also paid by me. But invoice  received from A with out Gst rs. 1.3cr. So my doubt this inv amt more than threshold limit of 194q, is it applicable tds on purchases 194q.

We request  u to all to give ur valuable  suggestions.

Thanks in advance.

Regards

Vinod

Replies (1)

Since Company A is an Indian entity, your purchase from them constitutes a domestic transaction for the purposes of Section 194Q. If your business turnover was over ₹10 crore last year and your purchases from Company A exceed ₹50 lakh this year, you are liable to deduct TDS at 0.1% on the amount in excess of ₹50 lakh.

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